Banner (NASDAQ:BANR) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Banner shares crossed above their 200-day moving average, reaching $67.51 before closing at $67.31, compared with a 200-day average of $66.90.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $73.75; recent targets range from $71 to $78.
• Banner reported quarterly EPS of $1.44, slightly below the $1.46 consensus estimate, while maintaining a quarterly dividend of $0.52, equivalent to a 3.1% annualized yield.

Banner Corporation (NASDAQ:BANR - Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $66.90 and traded as high as $67.51. Banner shares last traded at $67.31, with a volume of 304,477 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BANR shares. Benchmark initiated coverage on shares of Banner in a research note on Wednesday, July 8th. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Piper Sandler reduced their price objective on shares of Banner from $74.00 to $71.00 and set a "neutral" rating on the stock in a research note on Thursday. DA Davidson increased their price target on Banner from $72.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Banner in a research report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $73.75.

Banner Stock Performance

The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 11.11 and a beta of 0.83. The stock's fifty day moving average is $70.58 and its 200-day moving average is $66.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.02). The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Banner had a return on equity of 10.72% and a net margin of 23.55%. On average, analysts forecast that Banner Corporation will post 6.16 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were given a $0.52 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. Banner's dividend payout ratio is currently 34.32%.

Institutional Trading of Banner

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Banner in the 2nd quarter worth $20,508,000. North Reef Capital Management LP acquired a new stake in shares of Banner in the 1st quarter valued at about $11,860,000. Bank of America Corp DE raised its stake in shares of Banner by 25.4% in the 1st quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider's stock valued at $10,403,000 after purchasing an additional 34,679 shares during the period. First Trust Advisors LP lifted its holdings in shares of Banner by 71.9% in the first quarter. First Trust Advisors LP now owns 69,297 shares of the financial services provider's stock valued at $4,205,000 after purchasing an additional 28,987 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Banner by 114.6% in the first quarter. SG Americas Securities LLC now owns 48,508 shares of the financial services provider's stock valued at $2,943,000 after purchasing an additional 25,903 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

About Banner

Banner Corporation is a bank holding company headquartered in Walla Walla, Washington. Its principal subsidiary, Banner Bank, is a community bank that provides financial services to individuals, families, businesses and nonprofit organizations.

Banner Bank offers deposit accounts, residential and commercial real estate lending, construction loans, business and consumer loans, mortgage services, treasury management and wealth management solutions. The bank also serves small and mid-sized businesses through commercial banking products and relationship-based financial services.

Founded in the Pacific Northwest, Banner has expanded its banking operations across Washington, Oregon, Idaho, California and Utah.

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